The promising new tax break for business owners lacks well defined language and at the moment is causing more confusion than celebration. While businesses struggle to figure out if they will be able to take part in this tax break worth $415B, they await further definition from those drafting the paperwork.
Just Where Are Your Tips Going?
The debate continues about the fairness of paying wait staff less than minimum wage based on their ability to earn tips. Some states have already done away with this special exception to a federal wage law and are requiring restaurants to pay full minimum wage. Opponents suggest that this will affect smaller establishments, but studies show that this increase could bring a large number of workers above the poverty and deter tip theft as well.
Wage Theft in Restaurants
The New Pension Plan
With such a variety of retirement plans, many current workers will not have an actual pension. Ann Carrns, for the New York Times suggests a variety of ways to make your savings work for you in her article, No Pension? You Can ‘Pensionize’ Your Savings.
Her top recommendations include working longer, delaying Social Security payments, and, creating a budget for the amounts that you are required to withdraw from your retirement accounts.
Let’s Be Honest
Want to appear trustworthy with clients? Then avoid these fifteen phrases. Linda Zetlin for Inc. presents the list offering detailed reasons why these words cause skepticism. It goes to show that what we say may reveal more than we intend.
Do you eBay? Do you PayPal?
eBay announced last Thursday that it would no longer use PayPal as its primary processing service. Moving to Ayden, a Netherlands based firm and promising lower costs for consumers and a more streamlined customer experience. PayPal was acquired by eBay in 2002 and spun off in 2014 after pressure from activist investor Carl Icahn. The two remain contractually related until 2023.
EBay is dropping PayPal; if you’re a customer, here’s what you need to know
Portfolio Planning
Wondering about Bitcoin? Consider first if it fits within your investment portfolio. Carl Richards for the New York Times reminds us that investing is very different than speculating. Our decisions should be based on the process and not the outcome, which no one can actually predict. Plan your goals and focus on diversification and then decide if Bitcoin or any other investment opportunity is right for you.
Spend More Make Less?
The IRS outsourced tax collection in an effort to “put a dent in the $138 billion that taxpayers owe the government.” This action cost the agency $20 million and netted a little over six million in past due monies. Combined with contractor payments and relatively low collection rates, other cost factors included the streamlined approval of “tax-exempt organizations” as well as lack of funding for better direct (IRS) communication with tax payers.
I.R.S. Paid $20 Million to Collect $6.7 Million in Tax Debts
Team Building 101
After interviewing over 500 business leaders, managing director of Merryck & Co and author, Adam Bryant compiled this detailed list of the best practices for creating and maintaining a strong and productive team. Start with a plan, set the rules of the road and work to foster a culture of communication and respect that goes both ways.
How to Build a Successful Team
It’s All Relative
Remember the holidays when you were little? Lots of hugs, kisses and breath taking squeezes from relatives, not to mention that one aunt who always wore bright red lipstick and left an impression on your cheek for all to see. Navigating the holidays with small children can be difficult, especially when they appear shy or snub the advances of loved ones. Sue Shellenbarger for the Wall Street Journal offers a variety of ways to help both your children and the relatives connect and enjoy their time together.
When Your Child Won’t Hug the Relatives
The Thought That Counts?
Ever gotten a bad gift and wondered if it was meant to hurt your feelings? Deborah Y. Cohn, associate professor of marketing at New York Institute of Technology explores the many reasons people select certain gifts for others, often to the detriment of relationships. Are we really that mean? Apparently so, or we find that gifts are an easy and quiet way to tell someone what you really think. Food for thought when shopping for next Christmas!